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Operating in today’s higher interest rate environment is a constant balancing act for U.S. banks, credit unions and other financial services institutions, but it is a tightrope they will continue to walk for the foreseeable future.

While the Federal Open Market Committee (FOMC) has slowed the pace of interest rate increases in 2023, its efforts to tamp down on inflation are far from over. The committee raised interest rates another quarter of a percentage point at its July 2023 meeting after opting to make no increase in June.

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